Two-Unit Duplex with Finished
New
For Sale
$675,000
686 Charles Street, Perth Amboy, NJ 08862
Multi-Family, Perth Amboy, NJ
Property Size2,262 SF
Lot Size0.09 Acres
Price / SF$298.41
Days on Market6
Property Features for 686 Charles Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential, Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 3, Basement
Basement
Full
Lot features
Level
Directions
State St to Wayne St to Charles St
Standard status
Active
APN
16-00348-0000-00023-01
Size
2,262 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8453
Utilities
Sewer type
Public Sewer
Heating system
Zoned
Water source
Public
Building Details
Year built
1909
Floors in Building
2
Number of units
1
Listing Agency:
Coldwell Banker Realty
Listed By:
David DeSocio
(732) 671-1000
Added: Sep 15
Changed: Sep 18
Last Checked: Sep 20 at 8:06PM
MLS# 22629210
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,262 square feet and includes a finished attic, basement, four bedrooms, and two bathrooms. Zoned heating serves the property, while public water and public sewer provide utility service. Built in 1909, the home also includes a 16-foot side yard and additional outdoor space.
Located in Perth Amboy, the property is near transportation, shopping, and dining. Its two-unit layout supports several documented ownership approaches, including owner occupancy, extended-family living, or use as a residential income property.
Located in Perth Amboy, the property is near transportation, shopping, and dining. Its two-unit layout supports several documented ownership approaches, including owner occupancy, extended-family living, or use as a residential income property.
Key Highlights
- Two‑unit duplex with 2,262 square feet of living space
- Finished attic plus basement
- Four bedrooms and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,857
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$757,140
$757.1K
Cap Rate 7%
$540,814
$540.8K
Cap Rate 9%
$420,633
$420.6K
Market Conditions
NOI Build-Up for 2,262 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$57.8K $25.56/SF
− Vacancy
−$3.7K −$1.65/SF
EGI
$54.1K $23.91/SF
− OpEx
−$16.2K −$7.17/SF
NOI
$37.9K $16.74/SF
Area
Middlesex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$757,140
Cap Rate 7%
$540,814
Cap Rate 9%
$420,633
Alternative Uses
Best Use
Multifamily LT 5
$540.8K
$473.2K – $631.0K
NOI $37,857 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$496.9K
$434.8K – $579.8K
NOI $34,785 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$590.7K
$516.8K – $689.1K
NOI $41,346 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
805
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate units, finished attic space, and outdoor area support flexible residential income use.
Where is this duplex located?
The property is located at 686 Charles Street Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,262 square feet of living space; Finished attic plus basement; Four bedrooms and two bathrooms
